What is the High Level Committee on Banking for Viksit Bharat?

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The ‘High Level Committee on Banking for Viksit Bharat’ is a strategic advisory body proposed in the Union Budget 2026-27 designed to review the entire financial and banking sector to safeguard financial stability while scaling operations for a developed India by 2047
Key Financial Sector Mandates in Budget 2026-27:

Initiative Target Audience/Sector Primary Objective
High Level Committee Banking & Financial Sector Aligning credit and stability with the Viksit Bharat 2047 vision.
NBFC Restructuring PFC & REC Achieve massive scale and improve operational efficiency.
Municipal Bonds Urban Local Bodies Deepen debt markets with a ₹100 crore incentive for large issuances.
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